Changfeng Automobile
|subsidiaries = }} GAC Changfeng Motors Co Ltd ( ) (Chinese: 长丰; Pinyin: Chángfēng) is a Chinese SUV manufacturer. A state-owned enterprise but also a public company, Changfeng solely produces SUVs and most sales have been to the Chinese state. The company manufactures license-built Mitsubishi Pajeros, sold in China under the Mitsubishi brandPajero Changfeng Official Site (Web Archive) and Pajero variations that sell under the brand name Liebao,Guangzhou Auto Acquires Small SUV Maker Changfeng Motor chinabuses.com, 2009-05-31 which means leopard. Soon to be delisted, if regulators agree, it will emerge in June 2011 as an equally-owned joint venture between Guangzhou Auto and Mitsubishi. History (a license-built Mitsubishi Pajero iO)]] Changfeng has its origins in No.7319 Factory, which was a small repair facility for military equipment before becoming a factory in the 1970s.The Chinese are coming! Superexcellent! Changfeng is latest Chinese automaker with U.S. dreams motortrend.com, January 9, 2007 Production of crosscountry vehicles (license built Beijing BJ2020s) began in 1988, and the company's name became 'Changfeng Auto Manufacturing' in 1996. The 1991 Mitsubishi Pajero has been built by Changfeng since 1995. A series of small sedans are under development, and in May, 2009, Guangzhou Auto purchased 29% of the company to access these (or—what is more likely—its SUV expertise) and has plans to turn Changfeng into a joint venture with Mitsubishi Motors. State as primary customer The company has manufactured primarily for Chinese state use. As of 2008 most sales, close to seventy percent,Changfeng Motors, Mitsubishi to expand cooperation hktdc.com, 15 Jan 2008 were to police, military, and other government agencies.Mitsubishi, Changfeng to form China auto JV chinadaily.com, 2008-01-15 Mitsubishi Since 1995, Changfeng has produced license-built Mitsubishi vehicles for both military and civilian use,Mitsubishi Pajero to become a Changfeng Pajero? chinacartimes.com 25 JUNE 2009 and this Japanese automaker holds a 15% stake in GAC Changfeng Motors Co Ltd as of 2010. Mitsubishi joint venture In early November 2010, Mitsubishi and Guangzhou Automobile Group signed a memorandum of understanding to set up a new equally owned joint venture by restructuring Changfeng. Mitsubishi will increase its ownership to fifty percent and the new company should start work in June, 2011. Mitsubishi will help round out a portfolio of joint ventures with Japanese automakers for Guangzhou Automobile. Ownership As of 2010, the majority of ownership in Changfeng was held by three stake-holders, two of which have close ties to the Chinese state. 29% of the company is owned by Guangzhou Automobile Industry Group,GAC to form Mitsubishi JV based on GAC Changfeng reuters.com, Sat Nov 6, 2010 1:32am EDT 21.98% by Changfeng Group,Lagging far behind, Mitsubishi looks to new joint partnership peopledaily.com.cn, November 15, 2010 and 14.59% by Mitsubishi,Lagging far behind, Mitsubishi looks to new joint partnership chinadaily.com.cn, 2010-11-15 and remaining ownership held by unknown entities. Mitsubishi will soon increase its ownership to 50% as a part of changing Changfeng into a Sino-japanese joint venture. As of May, 2010, an unnamed, state-run parent company (probably Changfeng Group, as its ownership decreased due to state-mandated cooperation with Guangzhou Automobile Industry Group) held 50.98% ownership. Export While most sales are domestic, the company has exported to the Middle East and Africa.China SUV maker Changfeng plans U.S. debut reuters.com, Mon Jan 8, 2007 7:50pm EST Production bases Changfeng has production bases in Changsha, Yongzhou and Hengyang, Hunan province and in Huizhou, Guangdong province. Products *Changfeng Liebao Feiteng CFA 6400 - a Mitsubishi Pajero iO References Category:Changfeng Category:Motor vehicle manufacturers of China Category:Truck manufacturers of China Category:Companies of China Category:Guangzhou Automobile Category:Companies based in Hunan